Bitcoin Price Rally Could be on Last Legs, Bloomberg Analyst Warns

A key market indicator shows that the Bitcoin price rally may be losing steam. According to Bloomberg, “Bitcoin’s Moving Average Convergence Divergence indicator has been steadily falling since mid-February.” MACD is a commonly used metric for technical analysis. When it diverges from the symbol, it means that a trend may be over with. Watch out Bitcoin Bears – MACD Isn’t Everything Let’s keep in mind, however, that this is crypto. Old world tools like MACD and EMA only go so far here. Long-term charting suggests that Bitcoin may be overbought, but sellers may nevertheless back away from the market if